Have you ever wondered what it takes to improve the money dynamic in your most important relationships—like with your partner or family? If so, then I encourage you to take a small but bold step to commit to regular money check-ins—brief, intentional conversations about where you’re at and what comes next.
The power of frequent, intentional money conversations is that you address questions and concerns right away. You prevent little issues from becoming big issues. You can celebrate the results of wise money choices. You contribute to a sense of calm and control you won’t get any other way.
Why? Because money is emotional—and frequent conversations help prevent emotional pressures from building steam.
Here’s a practical three-step process you can try.
- Start with the RIGHT NOW. Where are you at with your money? What money is coming in—and what’s going out? How are you handling bills and expenses?
- Discuss WHAT’S NEXT? Are there upcoming needs or wants to address? Consider anything out of the ordinary that might be coming your way.
- Address FUTURE GOALS that come to mind. What progress are you making? What mid-course corrections will keep you moving forward? Remind yourself of the reasons for your good money choices.
You’ll find this rhythm is easier if you schedule your conversation at the same day and time each week. Include kids when the topics are age appropriate, such as saving for a vacation, buying a car, paying for basic utilities and other expenses like internet or phone.
Maybe a weekly meeting sounds difficult—a good idea, but one you’re likely to put off. There’s a simple way to conquer a difficult task. Commit to trying it for 5 minutes. That easy tactic is backed up by research that suggests we should create a low “barrier to entry” whenever we step into a more difficult topic or task.
The secret to success is breaking a desired outcome into its smallest parts—dopamine-boosting “micro-goals.” Just getting started and achieving these small goals will make your brain happy, increase your sense of well-being, and strengthen a new healthy habit.
Those regular check-ins will help you address a variety of topics—both large and small.